Difference between wagering agreement and contingent contract
Wagering is an agreement where a person agrees to pay money to the other person upon the happening or non-happening of an uncertain event. It is void under section 30 . Generally, it is a reciprocal promise . In a wager, the parties are not interested in the subject matter of the agreement except winning or losing the amount. In a wager, the future event is the sole determining factor. It is a game of chance.
Contingent contract is one in which the promisor undertakes to perform the contract upon the happening or non-happening of an uncertain collateral event. It is perfectly valid under section 31. There may be unilateral promises. The parties have a real interest in the happening or non-happening of an uncertain future event. In a contingent contract, the future events are only collateral. It is not a game of chance